 Posted: Tue Oct 28, 2008 10:15 pm Subject: |
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According to internet payday loan laws in Alaska, the concerned company needs to be licensed in Alaska. I'm not sure about GRC and NLS but Cash Supply is not legal in your state. Thus you can only pay the principal amount to Cash Supply.
For licensed internet pdls and storefronts you have to abide by the state laws: -
| Quote: | Legal Status: Legal
Citation:
Alaska Statute 06.50.100 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 14 days
Maximum Finance Rate and Fees: $5 + the lesser of $15 per $100 or 15%
Finance Charge for 14-day $100 loan: $20
apr for 14-day $100 loan: 520%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Two (renewals)
Cooling-off Period:
Repayment Plan: Yes
Collection Limits:
Collection Fees: $30 NSF fee; Court costs of up to $700 over the amount of the payment (if disclosed in loan agreement)
Criminal Action: Prohibited (Unless check returned due to closed account)
Where to Complain, Get Information:
Regulator: Alaska Division of Banking and Securities
Address: P.O. Box 110807 Juneau AK 99811
Phone: (888) 925-2521
Fax: (907) 465-2549
Regulatory Contact: Patrice Walsh,, Financial Institution Examiner |
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phoenix
Joined: 14 May 2008
Posts: 1081
Debtcc Points: 6075
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